In this episode, Aaron and Trishul discuss all the different types of taxes in the United States and their impact on income inequality. They discuss regressive consumption taxes, progressive income taxes, and how taxes are lower for businesses and the wealthy. They also examine the difference between marginal tax rates and effective tax rates. Do you know all the ways that corporations and their owners avoid paying taxes? Maybe our society has collectively decided that this is acceptable? Or perhaps its the maximum marginal brackets on corporations and individuals that affect public perception, when it is, in fact, our tax system that hinders income earners while helping the wealthy.
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2019 Tax Brackets
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A 95 Year History of the Maximum Capital Gains Tax Rate
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Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.